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Raj TV Q3 Net Profit Drops to ₹0.05 Cr; Revenue Declines 61% YoY to ₹16.39 Cr
Raj Television Network reported a sharp 61.6% year-on-year decline in revenue for Q3 FY26, falling to ₹16.39 Cr from ₹42.72 Cr. Net profit for the quarter was marginal at ₹0.05 Cr, down from ₹0.27 Cr in the previous year's corresponding quarter. While the company showed a slight 4% sequential revenue growth from Q2 FY26, the bottom line remains under pressure with very thin margins. Notably, the company has turned around its nine-month performance, posting a profit of ₹0.57 Cr compared to a heavy loss of ₹16.53 Cr in 9M FY25.
Key Highlights
Revenue from operations plummeted 61.6% YoY to ₹16.39 Cr in Q3 FY26 from ₹42.72 Cr.
Net profit for the quarter stood at ₹0.05 Cr, a significant drop from ₹0.27 Cr YoY and ₹0.17 Cr QoQ.
Total expenses for the quarter were ₹16.31 Cr, resulting in a razor-thin profit before tax of ₹0.08 Cr.
9M FY26 shows a turnaround with a net profit of ₹0.57 Cr vs a loss of ₹16.53 Cr in 9M FY25.
Earnings per share (EPS) for the quarter remained negligible at ₹0.01.
💼 Action for Investors
The massive drop in revenue scale is a major concern, despite the company remaining technically profitable. Investors should exercise caution and wait for signs of revenue stabilization and margin improvement before considering fresh positions.
Raj Television Downgraded to 'IND D' (Default) Following Debt Servicing Delays
India Ratings and Research has downgraded Raj Television Network Limited's bank loan facilities to 'IND D' from 'IND BB' due to delays in debt servicing during November 2025. The company is facing severe liquidity constraints, evidenced by a shift from an EBITDA profit of INR 48.45 million in FY24 to a loss of INR 196.99 million in FY25. The downgrade affects INR 222 million in bank facilities, including working capital and term loans. The company's interest coverage ratio has deteriorated to -5.21x, indicating an inability to meet interest obligations from operating profits.
Key Highlights
Credit rating downgraded to 'IND D' (Default) for INR 222 million bank loan facilities.
Company reported delays in term loan repayments in November 2025 due to liquidity issues.
FY25 EBITDA margin crashed to -15.66% from 4.55% in the previous fiscal year.
Interest coverage ratio stands at -5.21x, reflecting severe financial distress.
Liquidity position is officially classified as 'Poor' by India Ratings.
💼 Action for Investors
A default rating is a critical red flag; investors should consider exiting or avoiding the stock as the company struggles with insolvency risks. Monitor for any potential debt restructuring plans or a minimum of three months of timely debt servicing for a potential rating upgrade.
Raj TV Executes Agreement to Sell Hyderabad Property for Rs 22 Crore
Raj Television Network has signed an agreement to sell its non-core property in Jubilee Hills, Hyderabad, for a total consideration of Rs 22 crore. The company has already received an initial payment of Rs 3 crore and expects the transaction to be completed by June 30, 2026. Since the property contributed zero revenue in the last financial year, this sale represents a strategic monetization of idle assets. The resulting cash inflow is expected to significantly improve the company's liquidity position.
Key Highlights
Total sale consideration for the Hyderabad property is fixed at Rs 22,00,00,000
Initial payment of Rs 3 crore received upon execution, with Rs 1 crore due via cheque in January 2026
Balance consideration of Rs 18 crore to be received by the completion date of June 30, 2026
The property had zero contribution to the company's turnover or income in the previous financial year
💼 Action for Investors
This is a positive liquidity event as it monetizes a non-performing asset. Investors should monitor the final execution of the sale deed and how the management intends to utilize the Rs 22 crore proceeds.